According to Savills’ latest research, European office take-up for first quarter through third quarter 2025 rose by 3 percent year-on-year, while prime rents increased by an average of 4.9 percent year-on-year.
Frankfurt (76 percent), Dublin (46 percent), Barcelona (41 percent), Prague (36 percent) and London City (18 percent) office markets performed strongest against their respective first quarter through third quarter five-year take-up averages, reflecting a gradual recovery in demand from the tech sector, along with resilient demand from professional and financial services.
Average European office vacancy rates remained at 9.3 percent during third quarter 2025, with prime vacancy rates across many markets below the 3 percent mark, which is applying upward pressure on rents. The increase in prime rents was led by the core markets of London West End (17 percent year-on-year), Paris CBD (13 percent year-on-year) and Frankfurt (13 percent year-on-year).
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